NYSE$COOK
Traeger Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Traeger reported revenue and Adjusted EBITDA at the high-end of guidance, with the highest quarterly gross margin since becoming a public company.
Traeger's first quarter 2024 results showed a revenue decrease of 5.4% to $144.9 million, but gross margin increased to 43.2%. The company reported a net loss of $4.7 million, or $0.04 per share, and an adjusted EBITDA of $24.4 million, up 11.2% compared to the prior year. Traeger reiterated its full year 2024 guidance.
- Total revenues decreased 5.4% to $144.9 million, at the higher-end of guidance.
- Gross margin of 43.2%, up 700 basis points compared to prior year.
- Net loss of $4.7 million; net loss of $0.04 per share.
- Adjusted EBITDA of $24.4 million, up 11.2% compared to prior year.
Headline financials
Revenue & EPS history
Traeger · Revenue · Quarterly
$145M
Revenue by segment
Traeger · $118M total across 3 segments · Q3 2023
- Grills$56.6M+45.1%48.0%
- Accessories$35.8M+20.9%30.4%
- Consumables$25.4M+0.8%21.6%
Forward guidance
The Company is reiterating its prior guidance for Fiscal 2024. Total revenue is expected to be between $580 million and $605 million. Gross margin is expected to be between 39% and 40%. Adjusted EBITDA is expected to be between $62 million and $71 million.
Tailwinds
- Total revenue is expected to be between $580 million and $605 million
- Gross margin is expected to be between 39% and 40%
- Adjusted EBITDA is expected to be between $62 million and $71 million
- Expectation for continued softness in grill industry demand in 2024
- Expectation for significant improvement in gross margin, driven by lower transportation costs and the benefit of margin enhancement initiatives
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-0.0%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-6.6%
Avg return
30 days after
42%
10 / 24 earnings
Positive
+32.6%
Q2 2024
Best reaction
-20.6%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.3% | -8.8% | +36.6% | |
| Q4 2025 | -20.3% | -20.8% | -20.3% | |
| Q3 2025 | -12.5% | -2.0% | -21.1% | |
| Q1 2025 | -2.7% | -10.1% | -6.8% | |
| Q4 2024 | +0.9% | -15.7% | -31.0% | |
| Q3 2024 | -0.6% | -5.5% | -4.3% | |
| Q2 2024 | +32.6% | +27.9% | +61.4% | |
| Q1 2024 | +4.3% | +0.0% | +8.7% | |
| Q4 2023 | -8.5% | -2.2% | +4.0% | |
| Q3 2023 | -20.6% | -25.0% | -24.0% | |
| Q2 2023 | +32.1% | +29.8% | -1.8% | |
| Q1 2023 | +28.8% | +20.3% | +46.3% | |
| Q4 2022 | +13.0% | +22.5% | +13.9% | |
| Q3 2022 | -17.0% | +2.9% | -22.9% | |
| Q2 2022 | +11.3% | +5.4% | -6.5% | |
| Q1 2021 | +30.2% | +35.4% | -1.6% | |
| Q1 2022 | +4.1% | +9.3% | -14.6% | |
| Q4 2019 | +4.4% | +1.4% | -12.6% | |
| Q4 2021 | -15.8% | -20.6% | -29.8% | |
| Q3 2020 | -16.0% | -25.9% | -34.9% | |
| Q3 2021 | -16.0% | -25.9% | -34.9% | |
| Q2 2020 | -9.7% | -10.9% | -21.7% | |
| Q4 2020 | -9.7% | -10.9% | -21.7% | |
| Q2 2021 | -4.0% | -11.6% | -20.0% | |
| Q1 2020 | — | — | — |
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